Technical analysis

DAX Wave Analysis – 12 August, 2021

• DAX broke key resistance level 15775,00
• Likely to rise to resistance level 16000,00

DAX index under the bullish pressure today after it broke above the key resistance level 15775,00 (which previously stopped the price in June and July, as can be seen below).

The breakout of the resistance level 15775,00 accelerated the active upward impulse waves (v), 3 and (3).

Given the long-term uptrend on the daily charts – DAX index can be expected to rise further toward the next round resistance level 16000,00 – followed by the resistance level 16250,00.

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